Payahead definition

Payahead. Any Scheduled Payment intended by the related Mortgagor to be applied in a Due Period subsequent to the Due Period in which such payment was received.

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Payahead means, for an Active Lease and a Collection Period, an amount (not less than zero) equal to (i) the Active Lease Proceeds for the Collection Period, minus (ii) the sum of (A) the Base Payment for the Collection Period (or, for an Advance Payment Plan Lease, zero) plus (B) the Advance Balance for the prior Collection Period.

Payahead on a Precomputed Receivable means the amount, as of the close of business on the last day of a Collection Period, computed in accordance with Section 8.02(b) with respect to such Receivable.

Examples of Payahead in a sentence

• On the Exchange Note Issuance Date, the Servicer will deposit in the Exchange Note Collection Account an amount equal to the sum of (i) the Cutoff Date Payahead Amount and (ii) all Active Lease Proceeds, Terminating Lease Proceeds and Closed Lease Proceeds (excluding Recoveries) received and applied on the Leases during the period from the Cutoff Date to two Business Days before the Exchange Note Issuance Date.

• The Servicer may, at its option, make an advance for each Active Lease other than an Advance Payment Plan Lease and each Collection Period if the Base Payment exceeds the sum of (i) Active Lease Proceeds (which may be positive or negative) plus (ii) the Payahead Draw, by depositing the amount of the excess (equal to the Active Lease Advance) in the Exchange Note Collection Account on the Business Day before the related Payment Date or, with satisfaction of the Rating Agency Condition, on that Payment Date.

More Definitions of Payahead

Payahead means, with respect to an Actuarial Receivable, the amount, as of the close of business on the last day of a Collection Period, so designated in accordance with Section 4.3(a) with respect to such Receivable.

Payahead on a Receivable shall mean the amount, as of the close of business on the last day of a Collection Period, specified in Section 4.3 of the Sale and Servicing Agreement with respect to such Receivable.

Payahead. Any payment made by a mortgagor during a Due Period which is intended by the mortgagor to be an early payment of one or more scheduled monthly payments due with respect to subsequent Due Periods, and not as a curtailment to be applied in full as a reduction in the principal balance of the related mortgage loan.

Payahead. Any Scheduled Payment intended by the related mortgagor to be applied in a Collection Period subsequent to the Collection Period in which such payment was received.

Payahead. Any Scheduled Payment intended by the related Mortgagor to be applied in a Due Period subsequent to the Due Period in which such payment was received. PCAOB: Shall mean the Public Company Accounting Oversight Board.

Payahead on a Rule of 78's Receivable means the amount, as of the close of business on the last day of a Collection Period, determined in accordance with Section 4.3 with respect to such Rule of 78's Receivable.

Payahead means with respect to a Contract, any early payment, other than Prepayments, by or on behalf of Obligors that do not constitute Scheduled Payments due in the current Collection Period.